What does Graduate Plan Without waiver mean? It means the parent is not taking the option of having to undergo medical examinations which will safeguard the policy of the child from lapsing in the event the parent passes on.hat is it? This is an Investment product which is tailored to cater for payment of education fees at tetiary education. Lilunga Graduate Plan is categorised into two parts, that is Graduate Plan with Waiver and Without Waiver of premium.

Click here to download the Lilunga Graduate Plan brochure.

GraduatePlan with Waiver? Means the parent is willing to go for medical examinations to safeguard the policy of his/or her child from lapsing in the event parent passes on. In essence this means ESRIC takes over policy until it reaches maturity.

Who takes the parent (Applicant) for medicals? Eswatini Royal Insurance Corporation is responsible for taking client for medicals. The client is furnished with a letter which he/she takes to the Doctor specified by ESRIC, which results are in turn returned to ESRIC by the relevant Doctor.

What is the right age to take up Lilunga Graduate Plan? The child should be from age zero to 14 years as we may be well aware that most children finish school at the age of 18 years to 25 years.

How does one determine the term of policy? You look at the child’s next age birthday and estimate at what age will the child complete his or her High School, then you are able to ascertain the term to be chosen. Otherwise the minimum term is 10 years in all our investment products.

What is the premium per month? The minimum premium is E200.00 or more per month, with an option of an annual escalation of either 10% or 15%.

Why should one take up an escalation? An escalation assist the lump sum to be obtained at maturity. If client does not take up an escalation, that is as good as investing money under the pillow or mattress.

What are the documents needed to take up this product?

• Proposal form, obtainable at ESRIC or with an agent.
• Certified Child’s Birth Certificate.
• Certified Parents Identity document.
• Proof of residence, in the form of utility bill.
• Sworn Affidavit in the absence of a utility bill.
• Beneficiary nomination form (Not applicable) as the child is the beneficiary.

What are the benefits of Lilunga Graduate Plan?

• Flexibility of maturity date
• Choose on how you spend the money
• Maximum investment return for Insured’s child.
• Loan facility after 2 years of premium payment
• Optional premium waiver benefit.
• Tax free benefit on payout

What are the payment options?

• Cash Payment.
• Debit Order.
• Commercial Stop Order.
• Government Stop Order (Civil Servants)

What are the debit dates??

• 20th of every month.
• 25th of every month.
• 30th of every month.

Loan Component:The loan given is based on a 90% surrender value at an interest of 1% per month on the balance. Loan is payable over 12 months, 18 months, 24 months and 36 months depending on the amount of loan given.

What are the Loan Requirements?

• Fill in loan application form – obtainable at ESRIC Reception.
• Copy of Applicant’s I.D. Document.
• A copy of 1 month bank statement.
• Applicant’s current payslip.
• Policy document.

N.B Ensure that clients fill in every detail of the form, in the event not applicable (N/A) is required it should be applied. Client should clearly state postal and residential address.